Where are we in the insurance pricing cycle and what needs to happen for it to turn? How have the cycle management practices of insurance companies impacted their long-term profitability? How does the cycle affect actuarial estimates? A review of past cycle turns (and failures to turn) can shed light on the current cycle. This panel will discuss the dynamics of market cycles and address some key drivers that can impact the path of future cycles. We will also discuss how cycles significantly affect actuarial estimates used in reserving, pricing, and ERM.